1658 Colby Avenue Pending Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90025
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 5,464 sqft
Price per Sqft $457
MLS Listing ID CL25554857
HOA Y/N No
Year Built 1967
Lot Size 5,500 Sqft
Acres 0.13
Property Sub-Type Other
Property Description
1658 Colby Ave presents a rare opportunity to acquire a well-maintained 7-unit multifamily asset in the heart of West Los Angeles. The property features a DESIRABLE UNIT MIX: one 3-bedroom + 2.5-bath unit, four 1-bedroom + 1-bath units, one studio unit, and one bachelor unit. The required SEISMIC RETROFITTING has been COMPLETED, and a brand-new ELECTRICAL UPDATE was completed in 2025. Plumbing is MOSTLY COPPER, and some units have been updated. Priced at $2,500,000, the property offers investors stable cash flow with significant VALUE-ADD potential over 42% RENTAL UPSIDE. It is being offered at a current GRM of 14.07, with a proforma GRM of 9.92 and a proforma CAP rate EXCEEDING 7%, highlighting the strong income growth achievable through rent adjustments as units turn.Additional features include 7 on-site parking spaces and owned on-site laundry. Located in prime West Los Angeles, just steps from the vibrant Sawtelle Japantown, the property boasts an excellent Walk Score, offering tenants convenient access to renowned dining, shopping, and entertainment a highly desirable location that supports strong rental demand. Full OM available.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Flooring Tile,Carpet
Fireplace No
Appliance Dryer
Laundry Common Area,Dryer,Washer
Exterior
Utilities Available Other Water/Sewer
View Y/N true
View City Lights
Building
Water Other
New Construction No
Others
Tax ID 4261012021